Question No 39 Chapter No 13 – D.K Goal 11 Class

Question No 39 Chapter No 13

Additional Question

39. Anil sold goods to Mukul for 20,000, taking a bill of exchange at three months, dated 1st August, 2016. On 4th October, 2016, Anil got the bill discounted at 6% p.a. with his bankers. At maturity the bill was returned by the bankers dishonoured with 50 as noting charges. Mukul paid 10,000 and express immediately and accepted another bill at three months for the balance amount and interest at 6% p.a. But before maturity Mukul became insolvent and ultimately paid 60 paise in a rupee
Pass journal entries in the books of Anil

The solution of Question No 39 Chapter No 13: –

In the books of A
Date	Particulars		L.F.	Debit	Credit
2017
Aug.1	Bill Receivable A/c	Dr.		20,000
	To Mukul A/c				20,000
	(Being bill drawn for 3 months)
Oct.4	Bank A/c	Dr.		19,900
	Discount A/c	Dr.		100
	To Bill Receivable A/c				20,000
	(Being bill dishonored and bank charged Noting charges )
Oct.4	Mukul A/c	Dr.		20,050
	To Bill Payable A/c				20,000
	To Noting Charges A/c				50
	(Being bill dishonoured and bank charged Noting charges )
Oct.4	Cash A/c	Dr.		10,050
	To Mukul A/c				10,000
	To Noting Charges A/c				50
	(Being bill drawn for 3 months)
Oct.4	Mukul A/c	Dr.		150
	To Interest A/c				150
	(Being bill drawn for 3 months)
Oct.4	Bill Receivable A/c	Dr.		10,150
	To Y A/c				10,000
	To Interest A/c				150
	(Being bill drawn for 3 months)
Dec.7	Cash A/c	Dr.		6,090
	Bad debts A/c	Dr.		4,060
	To Bill Receivable A/c				10,150
	(Being 40% cash received from Y and 60% is bad debts )

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Also, Check out the solved question of all Chapters: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

• Chapter 1 Evolution of Accounting & Basic Accounting Terms
• Chapter 2 Accounting Equations
• Chapter 3 Meaning and Objectives of Accounting
• Chapter 4 Double Entry System
• Chapter 5 Books of Original Entry – Journal 
• Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
• Chapter 7 Books of Original Entry – Cash Book (Coming soon)
• Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
• Chapter 9 Ledger (Coming soon)
• Chapter 10 Trial Balance and Errors (Coming soon)
• Chapter 11 Bank Reconciliation Statement (Coming soon)
• Chapter 12 Depreciation (Coming soon)
• Chapter 13 Bills of Exchange (Coming soon)
• Chapter 14 Generally Accepted Accounting Principles(GAAP) 
• Chapter 15 Bases of Accounting
• Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
• Chapter 17 Capital and Revenue 
• Chapter 18 Provisions and Reserves 
• Chapter 19 Final Accounts (Coming soon)
• Chapter 20 Final Accounts – With Adjustments (Coming soon)
• Chapter 21 Errors and their Rectification (Coming soon)
• Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
• Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
• Chapter 24 Computerised Accounting System (Coming soon)
• Chapter 25 Introduction to Accounting Information System (Coming soon)

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.